F-35 Production Rate Rises Rapidly as Prices Continue to Fall: 131 New Stealth Fighters Delivered in 2019

The world’s largest defence manufacturer Lockheed Martin reached its ambitious target for F-35 production in 2019, manufacturing  131 of the complex fifth generation stealth platforms which represents a 47% increase over the previous year. The bulk of deliveries were made to the United States Military, with other clients such as South Korea and Japan also receiving fighters for their own expanding fifth generation fleets. Perhaps most notable about the jet’s production is that its cost has been reduced significantly, with the greater efficiency and larger scale of production relative to fighter programs in other Western countries making the F-35A the least costly - and almost certainly the most cost effective.

While Lockheed Martin had sought to reduce the fighter’s price to below $80 million a in 2020, the aircraft reached just $77.9 million in 2019 allowing defence clients to contemplate acquisitions in very large numbers. Costs for the F-35B vertical landing capable variant and F-35C carrier based variant remain considerably higher however. The F-35 program alone makes up approximately 25% of Lockheed Martin’s annual revenue, and a number of further orders are expected with new clients such as the United Arab Emirates and Switzerland showing interest in the platform. Over 3000 of the fighters are expected to be produced through the 2020s and likely into the 2030s, the vast majority of which will serve in the air fleets of the NATO alliance.